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. what drove the markets today? it was a mixed day on wall street as ben bernanke urged congress to deal and reach a debt deal. the s&p and -- listen, the whole market just plunged after the speech, but, still, after awhile, the markets managed to eke out gains. dow down a point, snaps a two session winning streak. consumer discretionary and health care today's top performers and technology and energy lagged. we have lots of action in the metals today. gold giving back a little more than a half of yesterday's gains closing down $11 an ounce. other metals lower, the biggest loser today, goes into catalytic converters to convert, down 1.1%. silver down eight-tenths of a percent. here's a good sign here. new home construction soaring to the highest level in more than four years last month. jumping 3.6% to a seasonally adjusted annual rate of 894,000. october's jump pushed starts up more than 40% compared to one year ago. david: it's all covered for today's action, larry, at the cme in chicago, and we've got more than $110 billion in advice from the gurus. starting with larry at the cme. lar
investing. risk includes possible loss of principal. , ben bernanke falo , ben bernanke falling in further c, bryl casone, have no say. dagen: j. p. morgan was in dinpo imus and called i j [talking over each other] -- is not funny now. h cheryl: i am cheryl casone. ben bernanke's latestp.ss ksment fiscal cliff speaking ing.tta, o we expected to begin in 15 minuing pay li. to do for the markets and t afford to miss. cheryl: i, mgar -pshkardtaak3 release. lateskiing.leils on shrnalu t3o oivisions that resulted in releasing its albums on iitungs. hour, stocks every 15 minutes, veralo markets are flat despite the hp industrials are in positive the nasdaq and s&p gradualoypfo strength. keep your eyes open. we were up 27 points. that until the all -- i, sidylso rallav the s. at the tech had $8.8 billion. dennis: thank you. taopfo cf1 o that had a ben bernanke's na f, m i ainuing isi to his colleague's calls to rein an rein in the fed? rein in the fed? >> i don'tp.n impartial and not fooled by a dennis: ben bernanke is ch3gtao cf1e n do the twist ball is there anything ben bernanke %an clyl, enni
fed chairman ben bernanke who is sick of congress kicking the can down the road. and it was a bad business move and hewlett-packard paying the price to the tune of nearly $9 billion. i will break down what went wrong. stay with us. gerri: we talk a lot about freedom on this network. the freedom to start your own business, to invest, but with freedom comes responsibility. there's a lot of people just blow it. i'm highly critical of the way government operates and we spent a lot of time criticizing the feds and state and local governments. some folks in the ceo suite on making some of the same mistakes. you have every reason to complain. case in point today, former ceo of hewlett-packard. no one of my colleagues at fox business nominated him as the worst ceo of all-time. in his rush to write the ailing company, they restructure the legendary pc business and bought a british software company called autonomy. oracle decided to take a pass. hp should have done the same because today it had to take $9 billion accounting charge after finding out they have serious accounting i improprie i
next guest says he is fired over recent comments that ben bernanke made earlier this week. bernanke made earlier this week. we will tell you all about it twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional invtors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. read and consider it carefully [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for349 a month at your local mercedes-benz dealer. gerri: up next the capital gains tax expected to skyrocket as t gerri: the stock market had a bl
is the kind that? my next guest says he is fired up over recent comments that ben bernanke made earlier this week. we will tell you all about it gerri: up next the capital gains tax expected to skyrocket as t gerri: the stock market had a black friday of its run today. major averages all end this holiday shortened week with significant gains. love to see that. the dow closing above the other team thousand benchmark of 1 72 points and the nasdaq up 4% ending it's a law th losing streak in four years. joining me, scott martin, a strategist for united advisers. welcome back to the show. i like this. penalized for the fiscal cliff, somehow we are not, and can this trend continue? is this a trend or one nice week that we will remember for a long time? >> it depends what trend you are referring to. the on-again off-again relationship we seem to have wi the fiscal collect is probably here to stay. we will probably drive investors mad because there is one day people will save the world is coming and taxes are coming to the sky and a resolution and things will be okay. the reality is somewhere i
next guest says he is fired up over recent comments that ben bernanke made earlier this week. bernanke made earlier this week. we will tell you all about it e. i had three kids. and she became the full time mother of three. it was soccer, and ballet, and cheerleading, and baseball. those years were crazy. so, as we go into this next phase, you know, a big part of it for us is that there isn't anything on the schedule. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. gerri: up next the capital gains tax expected to skyrocket as t gerri: the stock market had a
? my next guest says he is fired up over recent comments that ben bernanke made earlier this week. bernanke made earlier this week. we will tell you all about it want to try to crack it? yeah, at's the way to it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are prou to partner with health care profesonals who understand the difference that quality time with our members can make... thas a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average starating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ]umana. ♪ gerri: up next the capital g
, ben bernanke, has caught thoughts about economic growth, long term high unemployment. wall street legend giving us his assessment here next. twins. i didn't see them coming. i have obligions. cute obligations, but obligatio. i need to rethink the core omy portfolio. what i really need is sleep. introducing the ishares core, buding blocks r the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objective risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ ♪ lou: in tonight's "moneyline" housing starts of stronger than expected. good news quickly overcome by comments from fed chairman ben bernanke he said the central bank hhs little to do in order to avoid the consequences of that dive off the disco cliff. solution in the hands of congress and the president. markets at that point. lost their weight. yesterday the single best performance, ended up all but unchanged. the
, ben bernanke, has caught thoughts about ecoomic growth, long te high unemployment. wall street legend giving us his assessment here next. 4g lte is the fastest. so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks combined. but don't just listen to me. listen to these happy progressive customers. i plugged in snapshot, and 30 days later, i wasaving big on car insurance. with snapshot, i knew what i could save before switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. ♪ lou: in
reserve chairman ben bernanke warns congress to avoid the fiscal cliff, saying even the federal reserve doesn't have the tools to deal with the consequences. >> tom: i'm tom hudson. this man has many lawmakers pledging never to vote for higher taxes. find out what grover norquist thinks will happen with the fiscal cliff. >> susie: and hewlett packard stuns investors with news of an $9 billion mistake. >> tom: that and more tonight on nbr! >> susie: federal reserve chairman ben bernanke came to new york city today to send a tough message back to washington-- get your act together. he urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be "a very good one for the economy." ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were a
an ability to go further. especially after ben bernanke speaks tomorrow. speaking about qe-4. david: maybe it is a little bit of both, fiscal and monetary balance. what will happen when ben bernanke talks tomorrow, what happens with the day? >> if you notice, the market's concern is the beltway. if you notice, the housing data continues to get better. now, fed chairman ben bernanke is going to supercharge it and given the far left lane and he is going to put the pedal to the metal. the fed buying mortgage-backed securities through 2013. now they will buy treasures. long-term yields going lower with the idea to speed up the healing process in the housing market. david: let me just stop you there. how low can they go? you look at 10 years, down well below 2%. how low do you think these treasuries can go for where they are now? >> i think 10 years -- 2%, 30 years, 2.5%. you have a fatter yield curve and bond traders and purchasing the durable goods -- that marginal buyer will help the economy move forward in 2013. liz: lets me hope so. as you say, bond yields at about 1.25. what is better? eq
tonight after chairman ben bernanke has warned the fed does not have all the tools to justify set the worst case scenario. here's how we're finishing the day. the market down about 90 points earlier. finishing well off the lows, down 12 points on the industrial average. as you can see, 12,783. last trade on the blue chips. nasdaq also gave up ground, off the worst levels. flat on the session at 2915. that's far from where it opened today. s&p 500 picked up 1/3 of a point. federal reserve chairman ben bernanke putting a damper on the markets this afternoon after he said the central bank does not have the tools to offset the full harm of going off the fiscal cliff. yet, rob morgan is not concerned. he says he thinks the fiscal cliff has been overblown. are they overblown? let's bring him in. rob joins me now along with brian ferhrry and rick santelli. rob, you're not worried about the fiscal cliff. >> i'm worried, maria. just like chairman bernanke is. congress and the administration have to get together, but, you know, the president's been very clear that he doesn't want necessaril
. listening to that, federal reserve chairman ben bernanke wrapping up comments in the economic club of new york. a lot of interesting things there. he talked there at the end about uncertainty holding back business investment. i don't know that "uncertainty" is the right word anymore. it was uncertainty about obamacare, the election, and then the fiscal cliff. it's not uncertainty more as pessimism and depression on businesses. >> taxes, slow growth, and quickly, then off to peter barnes, interesting he said solving the fiscal cliff could be a good year for economic growth putting it all on washington and congress to get the fiscal policy in order in order to avoid the fiscal cliff. we have not talked about this, raising the debt ceiling, pushing it again, and he warned that a default could be crisis for business opportunity and actions so with that, i guess we're ready to go out to peter listening to the federal reserve chairman as well in washington with a recap and what stuck out for him. hello, peter. >> hey, that's right. i thought the comments in the end in particular saying the pote
fed chairman ben bernanke who is sick of congress kicking the can wn the road. and it was a bad business move and hewlett-packard paying the price to the tune of nearly $9 billion. i will break down what went wrong. stay with us. with the spark cash card from capital one, olaf gets great rewards for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark buness card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? i've got a ne long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b mecal expenses. the rest is up to you. call now and find out about an aarp medicare supplement insur
reserve system, ben bernanke. plus, morley safer asks, "can america afford the lincoln penny?" well, we begin with bernanke. after the crash of '08, bernanke invoked emergency powers, and with unprecedented aggressiveness, he's thrown more than $1 trillion at the crisis. the words of any fed chairman cause fortunes to rise and fall, and so by tradition, chairmen of the fed do not do interviews. that is, until march of 2009 when ben bernanke sat down with scott pelley. >> mr. chairman, i'm gonna start with a question that everyone wants me to ask. when does this end? >> it depends a lot on the financial system. the lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis. now, we've seen some progress in the financial markets, absolutely, but until we get that stabilized and working normally, we're not gonna see recovery. >> i wonder, do you expect double-digit unemployment? >> well, it's hard to forecast exactly where we're going. unemployment is rising. job losses are still very severe. and, no doubt, the unemployment rate's go
monetary policy into the economy, it could trigger a round of inflation. ben bernanke would say there are no signs of that. there is a debate about that. we will see but i think the economy is still in a tenuous state. we had modest improvement but we have signs of worry. i heard this week about the change in chinese leadership also worries about the future economic growth in china. use a more troubling news coming out of europe and trouble from the manufacturing report out of the united states. i don't think we should prejudge what economic policy should look like 12 months from now. many people do not know what will happen one month from now. do you have that a more thoughts of the job ben bernanke has been doing? guest: he's got a tough job. they went through an enormous crisis of historic proportions and has been working diligently to try to do the things that he thing needs to be done. i don't know if he will want to continue on in another term. most of our members feel very positively about chairman bernanke. >> i want to ask you about the debate surrounding dodd-frank. re
! >> susie: federal reserve chairman ben bernanke came to new york city today to send a tough message back to washington-- get your act together. he urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be "a very good one for the economy." ben bernanke didn't endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. he said an agreement on ways to reduce long-term federal budget deficits could remove road blocks to growth. on the other hand, going over the cliff might mean a recession. on top of that, worries about a deal were already causing trouble. >> uncertainty about how the fiscal cliff, the raising of the debt limit, and the longer-term budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. >> susie: wall street and business leaders were pleased that bernanke was talking tough. and they said the fed's role in the fiscal cliff
of harvard unersity, joins me now. >> it's good to be back. cheryl: you were with ben bernanke last week. there were two questioners talking to mr. ben bernanke. he has been very vocal in his call for congress to fix the fiscal cliff. you are a little bit more negative than your colleagues. why is that? >> well, what he said is if we gover the fiscal cliff, the economy will drop into a recession and the fed does not have the ability to stop that. now the question is, what if we do not hold the fiscal cliff but some of the other things that are being talked about, like the president's plan, what would happen then? the president's plan to raise taxes on high income individuals, cutting deductions for high income individuals, raising the corporate tax ate read a long list of that sort. eliminating the payroll tax holiday. that would take about 2% out of the gdnext year. we are struggling to reach 2%. as wwould basically be on the edge of an economic downturn we are sure to go into a recession if we go over the cliff and don't turn it around quickly. but even if we don't, if we have somethin
bernanke, on behalf a of all of us, thank you very much for that very insightful set of remarks. >> ben bernanke before the economic club. steve liesman will join must a moment. let's bring in tyler mathisen and bob pisani. the fed chairman went into fed policy, the looming fiscal cliff and the recovery, said the economic recovery was continuing and largely positive about the direction of housing. i want to focus with you though on the fiscal cliff, because he centered on that and he did say that it poses substantial risks to the economy. in fact, it's already hurting. this was a fed chairman saying don't look to me to fix the fiscal cliff, rise above and solve it. >> could have been wearing one of our buttons in part of our speech today. he really basically said get your act together t is up to congress and the white house and the administration to hit the right balance between budgetary restraint in the long run and a do no harm policy to the economy in the short run. and he was absolutely crystal clear in his answers to one of the last questions there, scott, that if congress and the
to real estate. how real is the recovery? ben bernanke set to speak about housing and mortgages in just a few minutes and what he says could move the markets. >>> but first, let's head out to chicago where sue can be found at a major investor summit in the windy city. sue? >> indeed, i am in the beautiful windy city, ty. this is the schwab impact conference. welcome to the biggest convention center in the united states and it is chock-full with some of the top investment advisors out there. we're going to be talking to a number of them. we have a terrific hour planned here from chicago. we're going to talk to the five-star rated portfolio fund manager of the permanent portfolio fund, michael kuggino. he has $17 billion under management. we'll find out how he sleeps at night in this volatile market. >>> plus, liz ann sonders, schwab's chief investment strategist is with us. she's fired up about the fiscal cliff. she says congress has to rise above -- she's wearing one of our pins, ty and simon. we'll talk to her about what the implications are if congress does not rise above. all of that
even more, a fairly bottom line decision. a lot of money was spent. ben bernanke was the second stimulus. the supreme court acted as the second stimulus, second only to the fed, because opening the door to that kind of private spending, the supreme court certainly did a lot for the economy. i look at their bottom line, it will be a disappointment. >> indiana and missouri are too easy, so i will go to minnesota. he ran the races with the chinese american actress on super bowl night. cake walk for stabenow. >> i would say joe biden. i think he's going to have a tough four years. i'll just leave it at that. on our side, i'd say that -- not continuing to learn. there was a lot of false security we had in our turn out operation. we stalled. i'd say that is a big loser. >> this has been a stimulating panel. we have a second panel that will start immediately. for those of you are c-span, www.laszlostrategies.com. thanks to ann lewis, eleanor clift, richard dunham, and blaise hazelwood. thank you all. [applause] [captioning performed by national captioning institute] [captions copyright
an end to the ongoing violence in the gaza strip. yesterday's fed chairman ben bernanke issued warnings to u.s. leaders negotiating over the so- called fiscal cliff about the serious financial impact looming on the horizon. that's where we begin this morning. how confident are you about the state of the u.s. economy? what steps are you taking to prepare for the potential impact if the u.s. goes off the fiscal cliff? give us a call this morning. you can also catch up with us on all your favorite social media sites, twitter or facebook. or e-mail us. thismorning to you on wednesday, november 21. we are talking about federal reserve chairman ben bernanke's comments yesterday about the fiscal cliff, and getting your thoughts on bthe u.s. economy. and this headline -- also, in the financial times -- to tell little bit more about ben bernanke's , and sister day we turn to david clarke of "politico," their financial services editor. thanks for joining us. guest: thanks for having me. host: what is making the most waves from his speech? guest: in the past he has warned that congress and the pre
with the exception of oil, which fell $2. fed chair ben bernanke is urging lawmakers to strike a deal on the fiscal cliff sooner rather than later, otherwise the nation will return to recession. the obama administartion formally proposed new rules on healthcare, including requiring coverage for pre-existing conditions and minimum health benefits for millions. and in earnings after hours, salesforce.com rallied on better-than-expected news, while the zale fell 10% as the company lost some shine on earnings. larry shover of sfg alternatives joins us now. those reports larry of cease-fire coming out of israel really rocked the oil market yesterday. what do you anticipate for today? > > i anticipate the trend to continue. keep in mind, before we had this cease-fire, a month ago, there was a big downward trend in the oil price. so i just expect that momentum to continue. refinery margins are really high, there is a lot of supply. i expect oil to continue to lower in price. > > what about greece? will we be able to get any closure there with the bailout money? > > i think the only way we are going to get
for urgency to get a plan in place. the question is can they actually do it. >> ben bernanke is speaking to the economic club of new york, he'll be talking about the recovery and policy. he will be taking questions. so we'll see whether this speech offers any fresh take on the fed's appetite for more different stimulus. what do you think we might learn in. >> i think it depends on who is there and what kind of questions that we get. i think the main curiosity is what will the fed do at the end of the rear with the twist operation and have they properly converted to another sort of easing plan. and i think that the consensus is that there will be more stimulus from the fed, especially given how uncertain the backdrop is. you can't have the fed stopping something and the potential for fiscal tightness. it would be terrible for the economy. so i think we can expect the fed to at least try to offset what's happening down in d.c. >> all right. george, good to speak to you this morning. still to come, america's rich and famous have been flocking to south beach for year, but find out who is tra
: but quickly, sir, we have to go. can we really thank ben bernanke because of this re-election? because of ben bernanke and his monetary policies and infusion of liquidity that is why the market is up? that's why you're saying then the president was reelected. >> ben bernanke in monetary policy can help for the wealth effect because stocks are up. but monetary policy has really done nothing to add jobs. tracy: no, agreed. >> to get things going. so you add jobs through tax incentives and through pure organic growth. not by keeping money cheap. this is wealth effect type of situation. at the end of the day, remember, we in america vote our pocketbook and our pocketbook feel as little better with stocks being up 15%. tracy: i guess. i don't know, maybe that is the rationale for yesterday. brian bell city, thanks so much for bmo capital markets. lori: you can not credit the president with the market rally. tracy: ben bernanke. lori: your policy, wealth effect drove people to riskier assets and higher return equity markets. for the administration to take credit for it, brian's point, got to raise
events of the morning. actually today fed chairman ben bernanke's speech at the economics sclub of new york is coming up at 12:15 eastern time. traders will be listening no any comments on the central bank's operation twist program and discussions about changing how the fed communicates about interest rates. operation twist expires next month. and there is some speculation the fed will continue making asset purchases by expanding the size of its $40 billion a month quantitate of it easing program. also on the economic agenda today, october housing starts released at 8:30 a.m. analysts looking for a decline in new building despite a steady stream of positive news on housing lately. yesterday the national association of home builders said the confidence between the nation's home builders has risk to its highest level in 6 1/2 years. and earnings front, a number of companies set to post quarterly results. hewlett-packard and best buy. shares of hp down more than 48% so far this year. meg whitman has a lot of explaining to do. and shares of best buy have fallen more than 41% since january.
chairman ben bernanke warned about going over the fiscal cliff tuesday saying it could pose a substantial threat to the economy. and we have brand-new weekly jobless numbers out this morning. how will wall street react? well, the opening bell is just ringing so let's get to the market rundown. cnbc's becky quick is here. thank you, becky, for joining us on this wednesday before thanksgiving. what do we know today? >> reporter: you know, luke, what you brought up about ben bernanke was really interesting because the market knows the s fiscal cliff was out there. that's what it's been reacting to. when bernanke spoke yesterday, it spooked the markets again. they know it's ut there but just the idea of it being brought up, people saying what a big deal it is reminds them once again this is a huge issue that has not yet been solved. this morning it looks like we are opening slightly weaker, down by maybe 20 points for the dow. a lot of things that people have been watching and waiting with congress out of session heading into the rest of the week, there is no real sense that any deal will b
? ben bernanke or rush limbaugh. rush thinks he holds some cards in the looming negotiations. can congress cut out the middlemen, the drama and make a deal? we will discuss next on "now." look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells, you get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps m
on a holiday week where it's been thin. my problem with what he said was is that ben bernanke said if we go off the fiscal cliff, he might not be able to impact those head winds in a meaningful way. many of his programs the last couple years haven't addressed the head winds of slowness in a meaningful way. many people down here totally agree. but i think that a tweet by bill gross sums it up best. the tweet is something like this. it said, well, now ben bernanke is acknowledging what we've said is a new normal arriving. i guess it's here. i would agree with that. i think most people i deal with never expected a 3.5%, 4% gdp handle for a long time. the markets reacted very differently. if you look at an interest rate chart, interest rates were virtually ignored and are actually moving higher, which doesn't fit a weaker economy. many people think that would happen in treasuries today and more european related. looks like greece is going to get their money. >> if you're putting your money, rick, on lower potential gdp, being in the 2% range, i think that's kpexactly what you would do. you would se
-searching is getting serious. a naval gaze of all naval gazes. and chairman ben bernanke on the fiscal cliff. well, if it isn't mr. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. just unroll it, fill, top, bake, and present. that must have taken you forever! it was really tough. [ female announcer ] pillsbury pie crust. let the making begin since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ remin
the record recovery means getting worse. >> alan greenspan says slow down. we also heard from ben bernanke this week. listen to what he said. >> unfortunately, while some tightening of the terms of mortgage credit was certainly an appropriate response to the developments of earlier accesses, the pendulum appears to have swung too far, restraining the pace of recovery in the housing sector. >> i completely agree with chairman bernanke. i think the housing recovery is going on despite problems in the mortgage market. now, he's been very critical about tightening of credit, but that may very well be, at least potentially, a cloud that could open up. >> this combination of low interest rates is probably a combination you won't see for a long time. the only thing i'm wrong on is the interest rates have actually gone lower. but now the feds say their rates will stay low until mid 2015 before starting to go up. it does take that urgency out of my argument that you better buy a house now. >> absolutely. i think that's one of the key issues. and if you look at sort of all of what i call happy housi
the fed going forward? >> well, ben bernanke has one more year to go in his term. he will continue the same policy. the federal reserve will take the burden of stimulating the economy since there will not be any fiscal stimulus. his replacement will continue the bernanke policy. >> the u.s. has deep economic the u.s. has gotten very frustrated with tokyo. it no longer believes the noda administration is capable of joining. and when prime minister abe when i becomes prime minister may want to join for security reasons to shore up the u.s./japan agreement, there's little faith in washington he could do anything until after the upper house election in 2013, and perhaps not even then. so the u.s. will go ahead with tpp, without japan, let japan join later. the u.s. would like japan in it, but japan has got to live up to the standards. that's the obama position. >> reporter: japanese prime minister yoshihiko noda has congratulated the u.s. president, and promise cooperation. the foreign policy will also welcome obama's second term. senior officials expect the u.s. will maintain its inte
because ben bernanke's policies generate weak dollars that won't give you the return that gold will. a tough one, sit on the cash. not going to hurt. could help. here's the bottom line. if i were still a broker, i know i would get that sale end. i know i would clinch it. the client would then thank me and we'd do the trimming just as we both wanted and do a repositioning into what's worth more now that the election is over and the fiscal cliff is, indeed, upon us. it just makes too much sense for the broker to make that call even if the clients were calcitrent. the money must only be taken out, hopefully, at a ripe, old age. let's go to jim in texas. jim! >> caller: hello, and booyah, jim, from the home of the afc leading houston texans. >> i like the texans here. i like them very, very much. i like that tight end. he's killing it for me. >> caller: he sure is. sunday night's game should be interesting. >> it will be nice for this stuff. i love sunday night nbc. go ahead. >> caller: yeah, i've got a two-prong question for you regarding bhc or bernak kps x. considering their successf
the fed has. chief ben bernanke speaks this afternoon. >>> before the bell this morning, walmart reported earnings that beat the street's estimates. retail sales dropped in october after three months of gains. >>> later today, bp is expected to announce it will pay the largest penalty in history to settle criminal and other claims from the 2010 gulf oil disaster. >>> the fda says over the past four years, 5-hour energy shots have been cited in the deaths of 13 people, this after last month's news tying monster energy drinks to five fatalities. >>> pizza chain papa john's is under fire after allegedly sending hundreds of thousands of unsolicited text messages to its customers. plaintiffs are seeking $250 million in a class-action lawsuit. >>> well, say it isn't so. twinkies gone by thanksgiving? hostess says if striking workers don't return to the job by the end of the day, it will be forced to liquidate. >>> after years in the making, some kansas city folks are the first in the world to test drive google's new super fast broadband service. >>> and could big pharma have something in the pi
"the housing market is far from being out of the woods." that's what federal reserve chairman ben bernanke told business leaders in atlanta today. he said the fed will keep interest rates ultra low so the housing sector can recover. bernanke alsooted that one in five borrowers owe more on their mortgages than their homes are worth, another sign that housing is still struggling. his comments came as foreclosure filings fell 19% in october compared to a year ago. it's the third straight month of annual declines, according to market research firm realty- trac. >> tom: u.s. stock indices continued sinking, falling for the sixth time in the past seven sessions. the s&p 500 made a couple of runs into positive territory today but couldn't keep up the d. the trading range was a little bigger, a dozen points top to bottom as it ended down a fraction. trading volume was a bit heavier-- 775 million shares moving on the bog board; just over two billion on the nasdaq. the telecommunications sector saw the biggest slide, down 1.1%. and utilities extended their sell-off with the sector down anot
roethlisberger said new standards by banks may -- federal reserve chairman ben bernanke said new standards, he says it swung too far the other way. the lending standards are slowing growth. >>> coming up on bay area news at 7:00 on tv 36, the scene of a noisy protest in downtown san francisco that is bringing out both sides of the debate. and what the train company is saying tonight about the train that struck a float carrying u.s. military veterans. bay area news at 7:00 on tvjoin us for these stories and more on bay area news at 7:00 on tv 36 -- join us for these stories and more on bay area news at 7:00 on tv 36. >>> hear from your national league mvp coming up next. when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. >>> dozens of people lined up today for a turkey give away. they team up with the food bank. in addition to the turkeys, the church g
% after the close on better-than-expected earnings news. fed chair ben bernanke says mortgage lending standards are too tight, preventing people with sturdy credit from buying homes. meanwhile, mortgage rates dropped to another record low. the 30-year drops a notch to 3.34%, the 15-year to 2.65. today's trader talk takes us around the world with gary kozlowski. good morning to you. > > good morning. > > let's start with the good old u.s. of a, and cliffs and bluffs. what is the market telling you about the so-called fiscal cliff? will we see a resolution? > > there is some uncertainty that's going on, because what we're seeing, with everybody so concerned, you would think that the u.s. dollar in particular would be pulling back. we are seeing the dollar up in the mid-81 range, and it looks like it is going to continue to run. also, another thing that we are looking at is the indices. they are pulling back down, and i think we still have some more room for them to pull on down. > > what about the eurozone going into yet another recession? what is the fallout? > > wow. we haven't seen t
and commodities. federal reserve chair ben bernanke speaks today at a new york economic club meeting. he's expected to talk about monetary easing and the economic recovery. eurozone leaders meet today to talk about bailout funding for greece. and the world bank says more droughts are likely world-wide as global temperatures continue to rise. violence is ratching up in the middle east. john brady of rj o'brien joins us now for a look at the trading day from cme group. good to have you on the show this morning. > > thank you much. > > oil prices were higher yesterday by almost 3% during the session at one point. is the middle east the main driver behind the move? > > i don't think so actually. i think the the strength in crude was mirrored by strength in other commodities as well, and specifically risk assets had a super day on monday with the idea that over the course of the weekend, treasury secretary geithner, president obama and other high-ranking administration and congressional officials seemed to hint to the media that a fiscal cliff deal would happen before the middle of or end of
and everyone is talking about it including the u.s. federal reserve chairman ben bernanke. he warned the imminent fiscal cliff poses a stashlg threat to the nation's economy and does say cooperation to resolve budget worries could boost u.s. growth. >> the realization of all of the automatic tax increases and spending cuts that make up the fiscal cliff ab isn't offsetting changes would pose a substantial threat to the recovery. >> the central bank chief urged the government and congressional leaders to take prompt action. president obama is negotiating for a resolution with republicans but bernanke says delays in reaching an agreement would raise uncertainty over the u.s. economic outlook. he added avoiding a fiscal cliff is essential for the american economy. bernanke says a plan for resolving the nation's longer term budgetary issues without harming recovery could make 2013 a very good year for americans. japan's trade balance for october sank into the red for a fourth straight month. exports plunged due to slowdown in the global economy and tensions over disputed islands with chin
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